ATEN - A10 Networks rallies on strong Q1 earnings led by cybersecurity and infrastructure solutions demand

A10 Networks (NYSE:ATEN) rallies after the company beat its Q1 revenue and EPS and also reporting a Y/Y surge. Revenue saw a 14.3% Y/Y growth led by 20.1% growth in security-led product revenue and 25.5% surge in the Americas. Demand for cybersecurity and infrastructure solutions remains a catalyst for the company's growth despite headwinds in Asia, continued supply chain challenges and typical fluctuations in buying patterns. Non-GAAP gross margin was 80.2% led by result of better product mix and successfully navigated short-term input cost pressures. GAAP net income stood at $6.3M or $0.08/share compared with net income of $2.7M or $0.03/share in prior year quarter. Non-GAAP net income of $10M, or $0.13/share, compared with non-GAAP net income of $9.4M, or $0.12/share in prior year quarter. Adj. EBITDA stood at $13.5M compared to $12.97M in prior year. "We believe we are now well-positioned to achieve the high end of our full year targets

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A10 Networks rallies on strong Q1 earnings led by cybersecurity and infrastructure solutions demand